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December Home Sales Sluggish Average Price Sets Record for 30th Consecutive Month
The momentum of 2018 home sales slowed considerably in December compared to last year’s levels, down – 10.5 % compared to December a year ago. Home sales this month were 1,655 compared to 1,849 in December 2017. As for 2018, homes sales kept pace with a very strong 2017, down only -1.6% for the year.
The December average home price climbed to $209,105 compared to $198,458 a year earlier, a + 5.36 % increase. At the same time, the inventory of homes for sale, as of December 31, reversed its year-over-year declining trend, climbing a slight amount from 4,360 a year ago to 4,372 in December 2018, up + 0.28 %.
November Home sales Slight decrease from the previous year.
1,737 homes closed in November of 2018. This is a slight decrease from the same time in 2017 when 1,799 homes closed,a drop of 3.5%. The number of New Listings of Single Family Homes and Condos increased for the same month in 2018 to 2048 from 2015 in November of 2017
Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!
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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.